According to Business-Today, US stocks moved higher in early trading on Wednesday as Wall Street extended its record-setting momentum, while oil prices remained largely stable. By 9:53 a.m. Eastern time, the S&P 500 had advanced 0.5%, the Dow Jones Industrial Average had gained 487 points, or 0.9%, and the Nasdaq Composite was up 0.3%. Brent crude, the international oil benchmark, edged up 0.1% to $79.41 per barrel.
Record highs on Wall Street
The gains extended the previous session's record-setting momentum, with both the S&P 500 and the Dow closing at record highs on Tuesday, while the Nasdaq remained within 2% of its all-time peak, Business-Today reported. The major US indices have posted strong gains so far this week, giving August a solid start, according to Business-Today, citing an AP report.
| Market Indicator | Level / Move |
|---|---|
| S&P 500 | +0.5% |
| Dow Jones Industrial Average | +487 points (+0.9%) |
| Nasdaq Composite | +0.3% |
| Brent crude | $79.41 per barrel (+0.1%) |
| 10-year US Treasury yield | 4.64% (up from 4.63%) |
Earnings season powers the rally
Markets have continued to rally as companies near the end of the latest earnings season with robust financial performance, Business-Today said. About three-fourths of the companies in the S&P 500 have already reported quarterly results, and Wall Street expects overall profit growth of around 50% once the reporting season concludes.
- The Walt Disney Company rose 3.2% after comfortably surpassing analysts' profit estimates, supported by $1 billion in box office collections from "Toy Story 5" and healthy revenue from its theme park business.
- Booking Holdings climbed 5.5% after reporting higher quarterly profit and revenue, driven by continued strength in travel demand.
- SpaceX shares fell 10.7%, even after the company reported a smaller quarterly loss than analysts had expected in its first earnings release since becoming a publicly listed company late Tuesday.
- Nvidia climbed 3.9% after SpaceX announced it would exclusively use Nvidia's chips to power its artificial intelligence systems.
Markets have continued to rally as companies near the end of the latest earnings season with robust financial performance.
Oil, rates, and the macro backdrop
Robust corporate earnings and optimism about future profit growth have continued to support the stock market despite lingering concerns over elevated inflation, Business-Today reported. Investors also remained focused on developments in the US-Iran conflict, which continues to cloud market sentiment. President Donald Trump said an agreement to reopen the Strait of Hormuz could be reached as early as Wednesday. However, the five-month-old conflict has seen repeated setbacks and renewed tensions, disrupting global oil supplies and creating volatility in energy markets.
The bond market was relatively stable, with the yield on the benchmark 10-year US Treasury note inching up to 4.64% from 4.63% at Tuesday's close, according to Business-Today.
Implications for treasury and trade finance
For CFOs, treasury directors, and trade finance professionals tracking trade-affected markets, the figures reported by Business-Today offer concrete reference points. The 10-year Treasury yield at 4.64% is a key rate to monitor for dollar funding costs, while Brent crude at $79.41 per barrel provides a baseline for energy-related shipping and logistics expenses. Asian equity markets ended higher, led by gains of more than 3% in Tokyo and Seoul as semiconductor and other AI-related stocks advanced, and European markets also traded in positive territory — regional signals that matter for cross-border demand and capital flows. With the S&P 500 and Dow at record highs and Wall Street expecting roughly 50% profit growth for the season, the equity strength underpins corporate balance sheets even as inflation concerns and geopolitical tensions over the Strait of Hormuz persist, according to the Business-Today report.
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